Currency, money problems and time
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The teaching part (1 min) is free to watch. A free account opens the whole lecture: 6 practice questions, 1 real past-paper question with the answer explained, the mistakes that lose marks, the full-marks tip, a one-card summary and a quick quiz.
What this lecture covers
- Travelling with money and time
- Exchange rates
Read the transcript of the teaching part
Last time
Before we start: last time, in Ratio, maps, scales and best value, you learned these points. Here they are again on one card. Keep them in mind, because today builds on them.
Travelling with money and time
You are flying abroad. You must change your money, work out whether the deal on the phone is cheap, and calculate when you land, in a different time zone. Today you do all three: exchange rates, money problems with deposits and payments, and time.
Exchange rates
An exchange rate says how much of one currency equals one of another. One dollar is zero point nine two euros. To change dollars into euros, multiply by the rate. Four hundred dollars is three hundred and sixty-eight euros. To go back from euros to dollars, divide. Two hundred and fifty euros divided by zero point nine two is two hundred and seventy-one seventy-four. A check: you get fewer euros than dollars, so the euro is worth more, and the dollars should be the bigger number.
How often it comes up
How often Cambridge has asked each part, counted by ExamYard from every past paper in its question bank: Currency conversion · Money calculations · Time calculations.
The whole chapter: Time, Money and Growth.
Chapter 7: Money and time
- Compound interest and exponential growth 6 min
- Currency, money problems and time 5 min
Also for O Level Maths 4024
Which topics come up most in O Level Maths 4024 past papers, counted from every paper since 2004.